Rajesh Power IPO subscribed overall 59.00 times on the last day, while a retail quota was subscribed 31.96 times and QIB was 46.39% and NII 138.46% respectively.
Details About Rajesh Power’s IPO
Rajesh Power got approval from SEBI for an IPO of ₹160.46 CR to raise funds and maintain financial stability. This IPO was a combination of fresh issues of ₹93.46 Cr and an Offer For Sale(OFS) of ₹67 Crores, 20,00,000 equity shares. The face value of each share was Rs 10. Moreover, the company has set up a price band between ₹320 to ₹335 per share. In this IPO total of 400 shares were available in 1 lot size for the minimum Retail category and maximum as well. While S-HNI (Min) total of 800 shares in 2 lot sizes.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum and maximum investment of ₹134,000.
- Small HNI (S-HNI): Minimum investment of ₹268,000.
Subscription duration of Rajesh Power
This IPO started on November 25, 2024, and closed on November 27, 2024. The investor’s allotment date was November 28, 2024, and they received a refund on November 29, 2024.
Funds Deployment of This IPO
- Capital Expenditure:
- Purchase of cable identification, testing and fault location equipments
- Setting up of DC Solar Power Plant having a capacity of 1300 KW;
- Inhouse development of Technical Expertise in the Production of Green Hydrogen and associated equipment such as Electrolysers.
- Additional Working Capital Requirement
- General Corporate Purposes.
About Rajesh Power Company
Rajesh Power Services Limited was organized in 1947 and built the capacities to develop the specialization to build, operate, and Preserve solar power plants all over western India. Not only built solar power but also handled substantial projects and a wide variety of solutions including design, consultancy, procurement, execution, testing, and commissioning all onTurkey Basic. Additionally, the promoters of this company Mr. Kurang Ramchandra Panchal and Mr. Rajendra Baldevbhai Patel have prolonged experience and have various plans to grow this company by exploring different opportunities in current field and renewable energy, like solar power. Revenue of 31 Sep 2024 is 31,785.09 and PAT(Profit After Tax) is 2,768.25. It has invested in HKRP Innovations Limited (HKRP), a company that provides tailored IT solutions for the energy sector. The company plans to raise more funds by launching an IPO worth ₹160.47 crores.
Rajesh Power Company’s Financial Background
The company reported revenue of ₹284.97 crores in 2024 against ₹207.18 crores in 2023. The company reported Profit of ₹26.02 crores in 2024 against Profit of ₹6.75 crores in 2023.
